- U.S. index contracts lose slightly, despite more than 4% rise in Nvidia (NVDA.US)
- Euphoria on shares of Crowdstrike (CRWD.US), Semler Scientific (SMLR.US) and Arcturus Therapeutics (ARCT.US) and Agios Pharmaceuticals (AGIO.US)
- Fed Kashkari hawkish comments and strong US Conference Board sentiment reading
Today's session is again dictated by Nvidia's share price increases, which, however, are not reflected in the rising valuations of other companies. Stocks in the chip sector are down, with US100 futures trading down nearly 0.5% against a 0.4% retreat on the US500 and 0.3% on the US30. Kashkari's comments from the Fed suggest that the Fed may still be considering interest rate hikes, and they should not be ruled out. The president of the Federal Reserve Bank of Minneapolis indicated that not all data suggests that policy is currently restrictive, and is hoping for improved inflation data before considering easing in the US.
US Conference Board consumer sentiment index came in 102 vs 96 exp. and 97 previously (revised to 97.5)
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app
Stocks traded on the S&P 500, divided by sector. Source: xStation5
US 500 (H1 chart)
Source: xStation5
News from companies
- Agios Pharmaceuticals (AGIO.US) gains as the company agreed to sell the rights to 15% royalties on the potential sale of vorasidenib, manufactured by Servier to Royalty Pharma, in the US market.
- Airbnb (ABNB.US) shares are gaining on a wave of Wedbush commentary that upgraded the rental sharing and tourism company to outperform from neutral previously. The company views the stock's decline following a weak quarterly report as a buying opportunity.
- Apple (AAPL) shares are gaining nearly 3% after data showed a rebound in iPhone sales in China last month. Shipments jumped 52% thanks to discounts at partner retailers.
- Shares of Arcturus Therapeutics (ARCT.US) are up 20% as the biotech company provided an optimistic update on patients in a clinical trial dedicated to treating cystic fibrosis
- Crowdstrike (CRWD.US) is trading up more than 14%. Morgan Stanley raised its target price on the stock and listed the cybersecurity company's stock as a top pick, predicting it could become the best in a growing industry that has the prospect of growing its market capitalization to $100 billion.
- DuPont de Nemours (DD.US) is trading up after Citi raised its rating on the chemical company to Buy from Neutral, based on growth from recently announced plans to separate the business and the potential for a recovery in the electronics division.
- Duolingo (DUOL.US) shares are on the rise after an analyst at JMP Securities raised his recommendation for the language software company, citing “numerous catalysts” for its continued growth
- Shares of GameStop Corp. (GME.US) are gaining nearly 18% after the video game retailer said it earned nearly $1 billion through a stock sale on market growth fueled by euphoria 'memstocks'.
- Nvidia (NVDA.US) shares gained nearly 5%, with the chipmaker's stock gaining for a third straight session. The stock also gained after news of purchases from xAI, Elon Musk's plan to challenge OpenAI and invest $6 billion in artificial intelligence
NVDA.US vs. US30
Since the release of the Nvidia results, company shares have risen nearly 15%, but futures on the Dow Jones (DJIA) have fallen sharply.
Source: xStation5
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
